Real Vision founder and CEO Raoul Pal is opening up to his followers about how much of his portfolio he’s devoting to Ethereum and why he prefers ETH over Bitcoin (BTC).
The former Goldman Sachs executive tells Real Vision’s 569,000 YouTube subscribers that he’s bullish on ETH because the cash generated in the Ethereum ecosystem is about 100x the rest of the entire space combined.
He also argues that a demand shock could be coming to Ethereum due to the various use cases of the leading smart contract platform.
Explains the Real Vision founder,
“[Ethereum] has a restricted supply because of the burning of ETH from the gas fees. Everybody’s staking their tokens for ETH 2.0, so you’ve taken loads off the exchange. Then there… [is] about $100 billion locked up in DeFi (decentralized finance), NFTs (non-fungible tokens) and all of that. That actually leaves a free float of Ethereum of about 11%.
11% is all the available Ethereum that you could buy if you went into the marketplace, and we’ve got that demand shock going on in front of our eyes. Bitcoin has nothing like that going on. Yes, there is a supply shock, yes, there’s a bit of a demand shock, but it just doesn’t have the network intensity that Ethereum does.”
Pal is also unveiling his massive Ethereum allocation after saying on Twitter last week that he’s “more than irresponsibly long ETH right now.”
“I’m at least, I’m probably now, I don’t even know anymore because I bought some options as well as I said in my tweet last night. I’m probably 85% Ethereum.”
The second-biggest crypto asset by market cap is trading at $4,316.47 at time of writing and is up more than 27% in the past month, according to CoinGecko.
I
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Vector-3D
